Recession not affecting property values in Park County (excerpt from Cody Enterprise)
Quoting Doug Brandt, Park County Assessor:
"Our real estate market is not reflecting any downturn,"Brandt said. "But we're looking at last years sales."
One premise is that if property sells for less, property taxes will likewise sink, giving a silver lining to a period of national recession.
Instead, Brandt said, people in Park County are simply holding on to their property rather than parting with it for less money.
"People don't want the value of their property to go down," he added. "They'll hold on to it rather than sell it for less."
For a complete transcript of this article e-mail me at postmaster@realestatecody.com.
Friday, January 30, 2009
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